Riverside Partners, L.L.C. the registered investment adviser, is a Delaware limited liability
company. Riverside Partners and its affiliates (d/b/a The Riverside Company and referred
collectively herein as “Riverside” and/or “Adviser” or “Advisers” where context permits) provide
investment advisory services to investment funds privately offered to qualified investors in the
United States and elsewhere and a limited number of separately managed accounts, including those
managed by Riverside’s affiliated investment advisers such as Riverside Europe Partners, LLC
and Riverside Asia Partners, LLC (“Relying Advisers”). Such affiliates are currently and would
typically be under common control with Riverside Partners and possess a substantial identity of
personnel and/or equity owners in common with Riverside Partners. These affiliates have been
and may in the future be formed for tax, regulatory or other purposes in connection with the
organization of the Funds. One or more of these affiliates currently serve as the general partners
of the Funds. The Relying Advisers and general partners of the Funds are subject to the Advisers
Act pursuant to Riverside Partners’ registration, in accordance with SEC guidance.
The Advisers provide investment supervisory services to the clients listed below, and to co-
investment vehicles (“Co-Invest Fund” or “Co-Invest Funds”) (the clients below and the Co-
Invest Funds are collectively referred to in this Brochure as “Funds”):
• Riverside Capital Appreciation Fund V, L.P. and Riverside Capital Appreciation Fund V-
A, L.P. (collectively, “RCAF V”);
• Riverside Capital Appreciation Fund VI, L.P.; Riverside Capital Appreciation Fund VI-A,
L.P.; RCAF VI AIV II, L.P.; RCAF VI AIV I-A, L.P.; and RCAF VI AIV I-B, L.P.
(collectively “RCAF VI”);
• Riverside Capital Appreciation Fund VII, L.P.; Riverside Capital Appreciation Fund VII-
A, L.P.; and RCAF VII AIV I, L.P.(collectively “RCAF VII”);
• Riverside Micro-Cap Fund I, L.P. (“RMCF I”);
• Riverside Micro-Cap Fund II, L.P. (“RMCF II”);
• Riverside Micro-Cap Fund III, L.P. (“RMCF III”);
• Riverside Micro-Cap Fund IV, L.P.; Riverside Micro-Cap Fund IV-A, L.P.; and RMCF IV
AIV I, L.P. (collectively “RMCF IV”);
• Riverside Micro-Cap Fund IV B, L.P.; Riverside Micro-Cap Fund IV B A, L.P.; and RMCF
IV B AIV I, L.P. (collectively “RMCF IV B”);
• Riverside Micro-Cap Fund V, L.P.; Riverside Micro-Cap Fund V-A, L.P.; and RMCF V
AIV I, L.P. (collectively “RMCF V”);
• Riverside Micro-Cap Fund VI, L.P.; Riverside Micro-Cap Fund VI-A, L.P.; and RMCF VI
AIV I, L.P. (collectively “RMCF VI”);
• Riverside Strategic Capital Fund I, L.P. and Riverside Strategic Capital Fund I-A, L.P.
(collectively “RSCF I”);
• Two separate managed accounts that invest in parallel with RSCF I;
• Riverside Asia-Pacific Fund II, L.P. (“RAF II”);
• Riverside Australia Fund III, L.P. and its feeder funds, including Riverside Australia Fund
III Feeder Trust (“RAF III”);
• Riverside Australia Fund IV, L.P. and its feeder funds, including Riverside Australia Fund
IV Feeder Trust (“RAF IV”);
• RAF EE, L.P. (“RAF EE”);
• Riverside Europe Fund IV, L.P. (“REF IV”);
• Riverside Europe Fund V, L.P. (“REF V”);
• Riverside Europe Fund VI, SCSp (“REF VI”);
• Riverside Europe Fund VII SCSp (“REF VII”);
• REF Fadata, L.P. (“REF Fadata”);
• Riverside Software Lending Fund I, L.P. d/b/a Riverside Acceleration Capital (“RAC I”);
• Riverside Acceleration Capital Fund II, L.P. (“RAC II”);
• RAC Opportunity Fund I, L.P. and RAC Opportunity Fund II, L.P. (collectively,
the “RAC
Opportunity Funds”);
• Riverside Credit Solutions Fund I, L.P. (“RCS I”);
• RCS SBIC Fund II, L.P. (“RCS II”);
• Riverside Technology Capital Solutions I, L.P. (“RTCS I”);
• Riverside Technology Capital Solutions II, L.P. (“RTCS II Fund”) and Riverside
Technology Capital Solutions II Select, L.P. (“RTCS II Select” and collectively with
RTCS II Fund, “RTCS II”);
• Riverside Value Fund I, L.P., Riverside Value Fund I-A, L.P. and RVF I AIV I, L.P.
(collectively “RVF I”); and
• RVF LMG, L.P. (“RVF LMG”).
The Funds invest through negotiated transactions in operating entities, generally referred to herein
as “Portfolio Companies” (and individually as a “Portfolio Company”). The Advisers’
investment advisory services to the Funds consist of identifying and evaluating investment
opportunities, typically in the smaller end of the middle market, negotiating the terms of
investments, overseeing such investments during the time they are held by a Fund and achieving
dispositions for such investments.
Riverside has been in business since 1988 and became registered with the SEC in 2012. Riverside’s
principal U.S. offices are in New York, New York and Cleveland, Ohio. As of December 31, 2023,
Stewart Kohl and Béla Szigethy (together, the “Managing Members”), through intermediate
entities, control and are the majority owners of Riverside. As of December 31, 2023, the Advisers
managed approximately $14,097,272,498 in client assets on a discretionary basis.
All discussions of the Funds in this Brochure, including but not limited to their investments,
the strategies used in managing the Funds, the fees and other costs associated with an
investment in the Funds and other terms, are qualified in their entirety by reference to each
Fund’s respective private placement memorandum (if any) (each, a “Memorandum”) and
limited partnership or similar agreement or other governing document (each, a “Partnership
Agreement”). Investment advice is provided directly to the Funds, subject to the discretion
and control of the applicable Fund’s general partner (collectively “General Partner” or
“General Partners”, as context permits), and not individually to the limited partners (each,
a “Limited Partner” and collectively, the “Limited Partners”) in the Funds. Services are
provided to the Funds in accordance with each Fund’s Partnership Agreement. The
information included herein about the Funds and any investment vehicles is not and should
not be considered an offer of interests in a Fund. In addition, such information is not an
offer of, or agreement to provide, advisory services directly to any recipient. This Brochure
is designed solely to provide information about Riverside for the purpose of compliance with
certain obligations under the Advisers Act.
INVESTORS IN THE FUNDS PARTICIPATE IN THE OVERALL INVESTMENT
PROGRAM FOR THE APPLICABLE FUND. THE GENERAL PARTNER HAS
ENTERED INTO, AND RIVERSIDE EXPECTS IT TO CONTINUE TO ENTER INTO,
SIDE LETTERS OR OTHER SIMILAR AGREEMENTS (“SIDE LETTERS”) WITH
CERTAIN INVESTORS THAT ESTABLISH DIFFERENT OR PREFERENTIAL
RIGHTS OR TERMS, INCLUDING BUT NOT LIMITED TO, DIFFERENT
MANAGEMENT FEES AND CARRIED INTEREST PERCENTAGES, CO-
INVESTMENT RIGHTS, THE RIGHT TO BE EXCUSED FROM CERTAIN
INVESTMENTS DUE TO LEGAL, REGULATORY, TAX OR OTHER AGREED-UPON
CIRCUMSTANCES AND TRANSFER RIGHTS. ALL SUCH RIGHTS AND TERMS
ALTER OR SUPPLEMENT THE TERMS OF THE RELEVANT PARTNERSHIP
AGREEMENT WITH RESPECT TO SUCH INVESTORS.